Nike snaps up metaverse start-up

Launched in 2020, RTFKT (pronounced “artifact”) Studios works by using NFTs, blockchain know-how and augmented actuality (AR) to produce virtual merchandise and experiences.

RTFKT Studios, which is centered in the US, is a metaverse fashion house which is best regarded for its sneakers and superior-close electronic garments.

In February, the startup introduced virtual sneaker types in collaboration with the artist Fewocious and swiftly manufactured far more than $3 million (£2.3m) buy providing extra than 600 virtual footwear.

John Donahoe, President and CEO of Nike claimed: “This acquisition is one more phase that accelerates Nike’s electronic transformation and lets us to provide athletes and creators at the intersection of sport, creativity, gaming and lifestyle.

“We’re acquiring a quite proficient staff of creators with an authentic and connected manufacturer. Our prepare is to invest in the RTFKT brand name, provide and expand their ground breaking and resourceful neighborhood and increase Nike’s electronic footprint and abilities.”